Isaac invested $1,800 in an account paying an interest rate of 4.7%
2 answers:
Answer:
$3584.86 or 3600 if rounded to the nearest 100 dollars
Step-by-step explanation:
1800(1.047)^15= 3584.86
you can plug this into a calculator
Answer:
3600
Step-by-step explanation:
\text{Compounded Continuously:}
Compounded Continuously:
A=Pe^{rt}
A=Pe
rt
P=1800\hspace{35px}r=0.047\hspace{35px}t=15
P=1800r=0.047t=15
Given values
A=1800e^{0.047(15)}
A=1800e
0.047(15)
Plug in
A=1800e^{0.705}
A=1800e
0.705
Multiply
A=3642.92403286
A=3642.92403286
Use calculator (with e button)
A\approx 3600
A≈3600
Round to nearest hundred dollars
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